I think the team plans on bringing him over once there's an opening at the PG position.
Could be next year if we decline Dragic's option and some team overpays him, but most likely it'll be a while before we bring him over.
Morey recently talked about him in an interview, which I'm currently unable to find.
Love your avatar. Believe it or not, but I actually know who that is.

Edit:
Found the interview.Morey talks about Llull from 20:50 - 21:42
It's a really interesting interview overall, so if you're a Rockets fan, you might want to listen to the whole thing.